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A 2008 paper investigating the Regulatory Tax (RT) on office development in Britain (Cheshire & Hilber, 2008) provided evidence of very tight restrictions on office space going back at least 50 years. It was also argued that the RT measure tended to underestimate the full costs of restrictive...
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to both the old system and to its major competitor, France. We offer a theory explaining this development. In our view, a …
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